Reported Earnings • Aug 11
First quarter 2025 earnings released: JP¥54.63 loss per share (vs JP¥42.40 profit in 1Q 2024) First quarter 2025 results: JP¥54.63 loss per share (down from JP¥42.40 profit in 1Q 2024). Revenue: JP¥4.57b (down 9.1% from 1Q 2024). Net loss: JP¥815.0m (down 293% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 134 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,235, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 12x in the Communications industry in Japan. Total returns to shareholders of 39% over the past three years. 공시 • Jun 27
Iwatsu Electric Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Iwatsu Electric Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. High level of non-cash earnings (37% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (JP¥13.9b market cap, or US$89.7m). Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥784, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 13x in the Communications industry in Japan. Total loss to shareholders of 12% over the past three years. Reported Earnings • May 19
Full year 2024 earnings released: EPS: JP¥45.30 (vs JP¥119 loss in FY 2023) Full year 2024 results: EPS: JP¥45.30 (up from JP¥119 loss in FY 2023). Revenue: JP¥21.3b (down 7.0% from FY 2023). Net income: JP¥526.0m (up JP¥1.71b from FY 2023). Profit margin: 2.5% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. 공시 • May 17
Iwatsu Electric Co., Ltd., Annual General Meeting, Jun 27, 2024 Iwatsu Electric Co., Ltd., Annual General Meeting, Jun 27, 2024. 공시 • Mar 24
Iwatsu Electric Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 Iwatsu Electric Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024 New Risk • Feb 11
New major risk - Revenue and earnings growth Earnings have declined by 7.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 7.0% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (50% increase in shares outstanding). Market cap is less than US$100m (JP¥10.1b market cap, or US$67.6m). 공시 • Dec 24
Iwatsu Electric Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 Iwatsu Electric Co., Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 New Risk • Dec 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 49% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (JP¥11.7b market cap, or US$81.0m). 공시 • Dec 19
Iwatsu Electric Co., Ltd. announced that it has received ¥3.7142 billion in funding from Ai Holdings Corporation On December 18, 2023, Iwatsu Electric Co., Ltd., closed the transaction. Reported Earnings • Nov 11
Second quarter 2024 earnings released: JP¥12.23 loss per share (vs JP¥2.21 loss in 2Q 2023) Second quarter 2024 results: JP¥12.23 loss per share (further deteriorated from JP¥2.21 loss in 2Q 2023). Revenue: JP¥4.99b (down 18% from 2Q 2023). Net loss: JP¥122.0m (loss widened 455% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. 공시 • Sep 17
Iwatsu Electric Co., Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Iwatsu Electric Co., Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥42.40 (vs JP¥40.22 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥42.40 (up from JP¥40.22 loss in 1Q 2023). Revenue: JP¥5.03b (up 1.8% from 1Q 2023). Net income: JP¥423.0m (up JP¥823.0m from 1Q 2023). Profit margin: 8.4% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. 공시 • Jun 24
Iwatsu Electric Co., Ltd. to Report Q1, 2024 Results on Aug 09, 2023 Iwatsu Electric Co., Ltd. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 19
Full year 2023 earnings released: JP¥119 loss per share (vs JP¥59.89 profit in FY 2022) Full year 2023 results: JP¥119 loss per share (down from JP¥59.89 profit in FY 2022). Revenue: JP¥22.9b (down 1.2% from FY 2022). Net loss: JP¥1.18b (down 299% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Feb 12
Third quarter 2023 earnings released: JP¥43.34 loss per share (vs JP¥0.50 profit in 3Q 2022) Third quarter 2023 results: JP¥43.34 loss per share (down from JP¥0.50 profit in 3Q 2022). Revenue: JP¥5.26b (flat on 3Q 2022). Net loss: JP¥432.0m (down JP¥437.0m from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 공시 • Dec 28
Iwatsu Electric Co., Ltd. to Report Q3, 2023 Results on Feb 10, 2023 Iwatsu Electric Co., Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Yasushi Miki was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 13
Second quarter 2023 earnings released: JP¥2.21 loss per share (vs JP¥11.78 profit in 2Q 2022) Second quarter 2023 results: JP¥2.21 loss per share (down from JP¥11.78 profit in 2Q 2022). Revenue: JP¥6.08b (up 3.0% from 2Q 2022). Net loss: JP¥22.0m (down 119% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 공시 • Sep 22
Iwatsu Electric Co., Ltd. to Report Q2, 2023 Results on Nov 11, 2022 Iwatsu Electric Co., Ltd. announced that they will report Q2, 2023 results on Nov 11, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: JP¥40.22 loss per share (vs JP¥25.90 loss in 1Q 2022) First quarter 2023 results: JP¥40.22 loss per share (down from JP¥25.90 loss in 1Q 2022). Revenue: JP¥4.94b (flat on 1Q 2022). Net loss: JP¥400.0m (loss widened 56% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Jul 10
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Yasushi Miki was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. 공시 • Jun 29
Iwatsu Electric Co., Ltd. to Report Q1, 2023 Results on Aug 09, 2022 Iwatsu Electric Co., Ltd. announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥59.89 (vs JP¥527 in FY 2021) Full year 2022 results: EPS: JP¥59.89 (down from JP¥527 in FY 2021). Revenue: JP¥23.2b (up 6.8% from FY 2021). Net income: JP¥595.0m (down 89% from FY 2021). Profit margin: 2.6% (down from 24% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. 공시 • May 15
Iwatsu Electric Co., Ltd., Annual General Meeting, Jun 24, 2022 Iwatsu Electric Co., Ltd., Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Yasushi Miki was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. 공시 • Apr 08
Iwatsu Electric Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Iwatsu Electric Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 6.7% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.9%). Reported Earnings • Feb 12
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥0.50 (up from JP¥17.94 loss in 3Q 2021). Revenue: JP¥5.21b (flat on 3Q 2021). Net income: JP¥5.00m (up JP¥183.0m from 3Q 2021). Profit margin: 0.1% (up from net loss in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥11.78 (vs JP¥8.67 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥5.90b (up 13% from 2Q 2021). Net income: JP¥117.0m (up JP¥203.0m from 2Q 2021). Profit margin: 2.0% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
First quarter 2022 earnings released: JP¥25.90 loss per share (vs JP¥59.59 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: JP¥4.92b (up 31% from 1Q 2021). Net loss: JP¥257.0m (loss narrowed 56% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥527 (vs JP¥5.75 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥21.7b (down 2.6% from FY 2020). Net income: JP¥5.23b (up JP¥5.18b from FY 2020). Profit margin: 24% (up from 0.3% in FY 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 01
New 90-day high: JP¥899 The company is up 6.0% from its price of JP¥845 on 01 December 2020. The Japanese market is also up 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Communications industry, which is up 1.0% over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: JP¥17.94 loss per share (vs JP¥19.37 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: JP¥5.18b (up 9.7% from 3Q 2020). Net loss: JP¥178.0m (loss narrowed 7.3% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 03
New 90-day high: JP¥862 The company is up 1.0% from its price of JP¥852 on 05 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 2.0% over the same period. 공시 • Dec 26
Iwatsu Electric Co., Ltd. to Report Q3, 2021 Results on Feb 12, 2021 Iwatsu Electric Co., Ltd. announced that they will report Q3, 2021 results on Feb 12, 2021 공시 • Oct 10
Iwatsu Electric Co., Ltd. to Report Q2, 2021 Results on Nov 06, 2020 Iwatsu Electric Co., Ltd. announced that they will report Q2, 2021 results on Nov 06, 2020